What is NET Power's EV / sales?

NET Power (NPWR) reported EV / sales of -8,818.4× in Q2 2025.

How has NET Power's EV / sales changed year-over-year?

NET Power's EV / sales decreased by 796.9% year-over-year, from 1,265.4× to -8,818.4×.

What is the long-term trend for NET Power's EV / sales?

Over 2 years (2022 to 2024), NET Power's EV / sales has grown at a 57.6% compound annual growth rate (CAGR), from 754.8× to 1,874×.

What does EV / sales mean?

Enterprise value at the quarter end divided by trailing-twelve-month revenue. A capital-structure-neutral revenue multiple, useful when earnings are negative.

NET Power NPWR EV / sales

EV / sales at other companies

Nextra EnergyNEE

10.5×+1.3×

Ormat TechnologiesORA

5.4×+0.6×

NuScale PowerSMR

166.8×—

FIP

FTAI Infrastructure Inc.FIP

7.5×-2.1×

ArganAGX

4.7×+2.8×

Natural Gas Services GroupNGS

2.5×+0.3×

Other financials

Income statement

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Revenue-—

Gross profit-—

Operating income-$34.2M+92.8%

Net income-$9.9M+91.7%

EPS (diluted)-$0.12+92.3%

Balance sheet

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Cash & equivalents$134.3M-55.6%

Total debt$3.6M+28.6%

Total equity$205.3M-67.8%

Total assets$542.8M-70.5%

Cash flow

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Operating cash flow-$51.1M-151%

CapEx$8.2M-8.2%

Free cash flow-$59.3M-102%

Valuation

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Market cap$147.6M-21.2%

Enterprise value$16.8M-115%

Profitability

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Gross margin91.7%+4.3pp

Operating margin-5,523,266.7%-5,662,660pp

Net margin-1,508,283.3%-1,547,773pp

FCF margin-1,076,558.3%-1,129,620pp

Returns & leverage

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Return on equity-111.4%-154pp

Debt / equity0×0.0×

Current ratio23.8×+0.5×

Where this comes from

Calculated from NET Power’s reported figures.

enterprise value/total revenue=-8,818.4×

Based on the most recent quarter.

The official record: NET Power’s 10-Q, filed August 11, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is NET Power's EV / sales?: NET Power (NPWR) reported EV / sales of -8,818.4× in Q2 2025.
How has NET Power's EV / sales changed year-over-year?: NET Power's EV / sales decreased by 796.9% year-over-year, from 1,265.4× to -8,818.4×.
What is the long-term trend for NET Power's EV / sales?: Over 2 years (2022 to 2024), NET Power's EV / sales has grown at a 57.6% compound annual growth rate (CAGR), from 754.8× to 1,874×.
What does EV / sales mean?: Enterprise value at the quarter end divided by trailing-twelve-month revenue. A capital-structure-neutral revenue multiple, useful when earnings are negative.